Thursday, 13 Aug 2020 04:27 PM MYT
Its revenue for the quarter under review also decreased to RM331.32 million from RM1.33 billion in the same quarter in 2019, due to challenges by the Covid-19 pandemic and the resultant movement control order and conditional movement control order . “All projects came to a standstill during the MCO and CMCO period, which spanned almost the entire Q2 2020. This had significantly impeded revenue recognition during the quarter under review” it said in a filing with Bursa Malaysia today.
“The main focus will now be on the swift conversion of these bookings into sales. Since the MCO and subsequent recovery movement control order were imposed to contain the Covid-19 pandemic, activity in terms of new launches and transactions has generally been slower in the residential market.
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